Web exclusive - Material that didn't make the final cut

Drew Ermenc

February 1, 2008

So the editor of Business to Business told me my story was too long for his magazine. Luckily, though, there are no space limitations out here in cyberspace. So here are my snapshots on each of the major presidential candidates, as well as a brief look at which party has been mostly supported by business:

Hillary Clinton
The former first lady is a polarizing figure in American politics, but her experience as a U.S. senator with powerful connections to New York businesses make her a leading candidate for the White House. Can she overcome the decidedly un-business friendly health care reform proposal that left small business owners in a panic in the early 90s?

John Edwards
The former North Carolina senator has taken a feisty approach to big business, positioning himself as champion for the lower and middle classes, and has suggested his solutions for "One America" could be at the expense of corporations and upper-income earners.

Rudy Giuliani
We all know about Giuliani's leadership following the terrorist attacks on September 11, 2001, and his campaign and talking points won't let you forget about it. But his record of reducing taxes and less government spending made a mark on New York City, and he's credited with revitalizing a local economy that was stagnant and heavily taxed in the early 1990s

Mike Huckabee
Huckabee had bipartisan support during his tenure as Arkansas governor, a sign he knows how to govern and manage effectively. But much of this across-the-aisle support came in the form of raising multiple taxes to cover a mounting budget deficit.

Barack Obama
Illinois' junior senator quickly has made a name as an energetic outsider ready to kick down the door of the establishment. With several prominent business leaders in tow, can Obama convince voters that his voice is the right choice?

John McCain
With almost 25 years of experience in Washington, McCain knows the political ropes and has learned to compromise on significant issues – specifically campaign finance legislation –to get things done. Bargaining is important in politics and business, but will his achievements help or hurt his run for the White House?

Mitt Romney
With an M.B.A. and law degree from Harvard, and job titles of CEO of a venture capital group and, oh yes, governor of Massachusetts, Romney has extensive leadership experience in both private and public sectors. Founding a company that now has $40 billion in management, Bain Capital, Romney believes he understands the plight of the business owner, and as a Republican governor in an otherwise very blue state, has a record of compromise and reaching across the aisle to achieve his goals.


Historically, business-friendly presidents have come from various backgrounds and haven't necessarily been dictated by party lines.

Ronald Reagan, argued by many as the most business-friendly president in recent memory, was a former governor who implemented a fiscal policy that slashed corporate and individual taxes when he took office in 1981. John F. Kennedy also was a proponent of lowering taxes, even organizing the Business Committee for Tax Reduction, a group of business leaders that included Henry Ford II, to help pitch his ideas of tax credits for investments in 1962 and tax rate cuts in 1963.

And Bill Clinton saw impressive economic success with his free trade policies during his two-terms in the 90s.

In 2008, the dynamic between business and politics – and red versus blue – is even more muddled, as Republican candidates are watching a larger amount of corporate contributions pour into the coffers of their Democratic counterparts, a significant shift from those companies that historically have given to the GOP.

"Four years ago, the Republicans were the party of business," says David Johnson, president and founder of Strategic Vision, a public affairs agency. "It goes back to the New Deal. The party was seen as the one to let the Depression run its course. Now, the business money is going to the Democrats. That's unusual."

Johnson believes companies that have given to Republican candidates are doing so in preparation for a possible Democratic victory. Tom Baxter, editor of Southern Political Report, an Atlanta-based publication, agrees. "There's a larger question here: Business is wondering if it's Democratic or Republican."